Category: Foreign Trade Law

All Countries Foreign Trade Law Updates

Jan 31

In U.S. actions, the worry of global trade lawlessness

In a significant development in international trade law, four separate World Trade Organization (WTO) Panel reports have ruled that the tariffs of 25% and 10% on steel and aluminium, respectively, that the United States (U.S.) had imposed during the presidency of Donald Trump are inconsistent with WTO law. The cases were brought by China, Norway, Switzerland, and Turkey. The WTO panellists held that these tariff rates breached the U.S.’s obligations under Article II.1 of the General Agreement on Tariffs and Read Full Details…

Jan 27

The impact of the African Continental Free Trade Area on the continent’s mining sector

As a top producer of numerous critical mineral commodities, Africa is set to benefit from the rapid increase in the rate of global energy transition, with the continent’s mining industry playing a role in sourcing and supplying these critical minerals for use in clean energy initiatives. Exporting these critical minerals as raw materials, however, reduces Africa’s trading position to one of price takers, and the current disruptions in global supply chains are hampering the trade of these commodities in Africa, Read Full Details…

Jan 24

DGFT ISSUED CLARIFICATION ON IMPLEMENTATION OF PAPER IMPORT MONITORING SYSTEM

The Directorate General of Foreign Trade() has issued Clarification on Implementation of Paper Import Monitoring System via issuing Circular. The Circular Stated, “Import of products under Chapter 48 (total 201 tariff lines) of Schedule-I () of ITC (HS), 2022 are permitted subject to compulsory registration under (PIMS), vide DGFT Notification No. 11/2015-20 dated May 25, 2022.” Various representations have been received in DGFT from trade & industry seeking clarification on the applicability of the said Notification dated May 25, 2022 Read Full Details…

Jan 19

Ease of export: DGFT simplifies composition fee under export advance authorisation

Amid a decline in India’s outbound shipments, the Directorate General of Foreign Trade (DGFT) on Wednesday simplified the process of levying composition fee on exporters to help achieve their export commitments. The fee is levied if the exporter is unable to timely export the product for which duty free import of inputs is made, called advance authorisation. Source : economictimes.indiatimes.com/ For more details

Jan 16

Arbitrating the quality of goods in international trade

The claimant was an international medical service provider registered in the Isle of Man, and the respondent was a professional supplier of medical materials registered in mainland China. In the spring of 2020, at the peak of the global covid-19 spread, demand for medical supplies such as protective masks skyrocketed. In March, the claimant and respondent executed an export contract for the acquisition of certain KN95 facial masks, which set out unit price, total price, date of delivery and quality. Read Full Details…

Jan 10

Foreign companies in China no longer required to file with authorities

China introduced amendments to its legislation on the mandatory registration of foreign business entities with China’s commercial authorities, Russia’s trade representative office in China said on Monday. “Local commerce departments will no longer require confirmation of registration as a foreign economic activity participant when issuing quotas, licenses, and certificates related to export-import activities,” the trade mission said in a statement on Telegram. The authorities will no longer require business entities to provide foreign-trade operator registration materials in applying for import Read Full Details…